The World Health Organization estimates that 138,000 people are killed by venomous snakes annually, and most of them die before they reach emergency medical care. But a new drug is being tested that could save lives.

According to the Los Angeles Times, the medication, Varespladib, blocks phospholipase-A2, a highly toxic protein that is present in 98% of all snake venoms. The protein is responsible for life-threatening tissue destruction, catastrophic bleeding, paralysis, and respiratory failure.

Currently the drug is in clinical trials conducted by Ophirex Inc., a public benefit corporation that was founded by Dr. Matthew Lewin, an internationally recognized expert in the practice of emergency medicine and wilderness medicine.

The U.S. Food and Drug Administration granted Varespladib a “fast track” designation to expedite the development and review of its safety and effectiveness last year. The Department of Defense has also invested $24 million into the effort, says the Times.

Experts say that the drug would be of great value where snake bites are more common and could be used to buy time before being able to get the hospital. But getting any new drug from the laboratory to the market is an expensive and intricate process that may take years to accomplish.

Ophirex is now completing a Phase II clinical trial in the United States and India to determine the tolerability and potential side effects of multi-dose regimens of the drug in 100 suspected or confirmed snakebite victims.

A federal analysis of the results is expected next year to determine whether Ophirex has created a successful treatment for snakebites that will have both military and global opportunities. The price for the proposed pill has not been established, but the company says they want to make the drug accessible around the world, and to make that a reality, they are exploring ways to reduce manufacturing costs.